A lecturer at the Michael Okpara University of Agriculture, Umudike, Abia State, has accused Adama J. Adama, founder of Farm4Me, an Abuja-based agribusiness investment company, of defrauding him of N2.1 million.
The lecturer, who pleaded anonymity, told FIJ that he invested with Farm4Me in October 2021 after Adama promised an attractive Returns On Investment (ROI) ranging from 50 percent to 300 percent.
He stated that he invested in melon farming, alongside his wife, with N2.1 million. His investment was supposed to mature in March 2022, but it did not happen.
“In March last year, we invested with a total sum of N2.1 million on some of the investments rolled out by the company. They also promised Returns On Investment (ROIs) that ranged from 50 to 300 per cent per annum,” he said.
“In November, 2021, I heard that something had happened to Farm4Me but I did not believe the story I heard.
“But now that I am supposed to get my money back, I haven’t. This means the story I have heard is true.”
READ ALSO: After Taking Investors’ N10bn, Adama Adama’s Farm4Me Claims Its E-Wallet Was Hacked
He said he had sent several emails to Farm4Me, but their support group ignored him.
“I stumbled on their customer care number, but they ‘dribbled’ me. They told me once that they’d send the money to my account, but they never did,” he said.
“Once they admitted they had an issue, later, they told me there was nothing they could do. Since then, Farm4Me has stopped taking my calls. The CEO is unreachable.”
READ ALSO: After Promising a Fortune, Segun Fayomi of Plethora Farms ‘Robs Investors of Millions’
FIJ made several phone calls to Adama but his line did not connect. He had also not responded to a text sent to him at press time.
In March 2019, the company rolled out several investment plans as in form of contract farming to its investors.
In November 2021, FIJ reported how Adama J Adama defrauded many investors of close to N10 billion through Farm4me. At the initial stage of the crisis, he claimed his firm’s system was hacked. The CEO later stopped picking his investors phone calls when they suspected he had defrauded them.
Presently, no one knows his exact location.
Our Stories
Judge Refuses Binance Executive Bail in $34m Fraud Case
Tinubu Appoints Isa Yuguda, Ex-Bauchi Gov Who ‘Siphoned N212b’, as NOUN Pro-Chancellor
Women Affairs Ministry Says Suit Challenging Mass Marriage of 100 Orphaned Girls Still in Place
Court Convicts MedContour’s Dr. Anu Adepoju for Disobeying FCC Summons on Failed Booty Surgery
After FIJ’s Story, Overland Airways Refunds Woman’s N226,000 Held After Cancelled Flight
Oba Abdulazeez Gbadabiu of Ikotun ‘Aiding Land Grabbers to Repossess Land Sold in 1977’
CBN Wants You To Link Your Social Media Handles to Your Bank Accounts. A Court Has Said It Is Okay
How Gabriel Ajah, Enugu SUBEB Chairman, Fired 5 Primary School Teachers for Requesting Pay Raise From Governor
ICIR Next As Police Continue ‘Cyberstalking’ Onslaught Against Online Newspapers
International Day of the Boy-Child: Sexual Abuse Against Boys Is More Prevalent Than We Know
Subscribe
Be the first to receive special investigative reports and features in your inbox.